Britannia Mining Solutions Inc. Signs Agreements to Deploy 10 Additional Chrysos PhotonAssay(TM) Units
- Britannia Mining Solutions will install and operate a total of 12 Chrysos PhotonAssay™ units in strategically important mining centres globally using an innovative hub-and-spoke model
- Positions Britannia as a leader in offering technology-enabled, data rich and ESG friendly assay solutions to the global mining industry
- First PhotonAssay™ unit to be deployed in Q3 2023 in Montreal, serving as an initial regional hub for eastern Canada
Toronto, Ontario–(Newsfile Corp. – August 11, 2022) – Britannia Life Sciences Inc. (CSE: BLAB) (FSE: L020) (“Britannia”) is pleased to announce that its partially owned subsidiary, Britannia Mining Solutions Inc. (“BMS”), has entered into Asset Purchase Agreements (APA) with Chrysos Corporation Limited (“Chrysos”) pursuant to which Chrysos will deliver an additional ten Chrysos PhotonAssay™ (“PhotonAssay™”) units, bringing the total number of PhotonAssayTM unit lease agreements signed by BMS to twelve.
BMS, which is supported by a distinguished group of mining investors and advisors including Eric Sprott and Dr. Quinton Hennigh, was established to provide technology enabled solutions to the global mining industry by setting up laboratories to address the global backlog in minerals assays.
With respect to the additional PhotonAssayTM units, Peter Shippen, CEO of Britannia, stated “Britannia is pleased to deepen its partnership with Chrysos in revolutionising the global minerals analysis industry. Like Chrysos, our Britannia Mining Solutions team has an unwavering commitment to the creation of exceptional market value. The signing of these ten new PhotonAssay lease agreements reflects the desire of both organisations to deliver unparalleled levels of customer service through faster, safer and more sustainable assaying technologies.”
The first PhotonAssayTM unit is expected to be deployed in the September quarter of 2023. Based on its discussions with a variety of mining companies regarding their assay needs, BMS now expects to deploy the first PhotonAssayTM unit in Montreal, Quebec, where it will serve as a Britannia’s first regional hub. BMS expects to deploy the eleven additional PhotonAssayTM units globally using this same hub-and-spoke market expansion plan to deliver assay services to strategically important mining centres across the United States, Canada, Central and South America, the Middle East and Europe.
Chrysos PhotonAssayTM technology addresses the many challenges of legacy assay processes, including safety and sustainability, with a significantly faster sample turnaround time. The PhotonAssayTM solution provides results in as little as two minutes and eliminates the need for toxic chemicals used in the slower, more hazardous fire assay process. BMS’ PhotonAssayTM units will be complemented with a variety of advanced technology solutions aimed at providing superior and more timely insights to geologists and mining executives, to better inform their ongoing drill programs and mine development plans.
On the expansion of its relationship with BMS, Chrysos Corporation Managing Director and Chief Executive, Dirk Treasure, stated “These ten new PhotonAssay leases signal a significant expansion of the existing relationship between Chrysos and Britannia Mining Solutions. We are particularly excited by BMS’ targeted approach to the roll-out of its PhotonAssay units. Its proposed regional hub model offers flexibility for large and small miners globally and complements the existing mine-site and near mine-site deployment strategies of Chrysos’ other customers.”